Advanced Manufacturing

Advances in technology, an evolving marketplace, and speed and
transparency of the supply chain has led to interconnected challenges prompting manufacturers
to rethink and transform virtually every aspect of their operation.

Download the full research

The report presents key findings and best practices
manufacturers
can
use to navigate the shifting components of the environment and identify strategies
for
continued
growth and success.

The U.S. manufacturing middle market defined

*Based on data from The National Center for The Middle Market 1q
2018.

Rapid transformation and continual advancement

Mechanization

Water power

Steam power

Based on a report from McKinsey & Company "The Fourth Industrial Revolution
and the factories of
the future".

Rapid transformation and continual advancement

Assembly lines

Electricity

Based on a report from McKinsey & Company "The Fourth Industrial Revolution
and the factories of
the future".

Rapid transformation and continual advancement

Automated processes

Based on a report from McKinsey & Company "The Fourth Industrial Revolution
and the factories of
the future".

Rapid transformation and continual advancement

Cyber-physical systems

New technologies (AI, robotics)

Data analytics driving new business models

Sensing and actuation

Connectivity throughout supply chain

Explosion of data, computing powers

Based on a report from McKinsey & Company "The Fourth Industrial Revolution
and the factories of
the future".

New opportunities

While middle market manufacturers have new
opportunities—new markets to serve, new ways of winning and keeping customers, and new
flexibility in
operations—they also confront new exposures for which they may not be fully prepared.

As opportunities continue to expand in the global market, manufacturers need insurance
solutions that address exposures anywhere in the world.

As manufacturing becomes more dynamic, the third party liability exposures it presents
become more complicated. Manufacturers need insurance solutions that enable them to react quickly when
products must be withdrawn from the marketplace and when third parties sustain injury or damage.

As manufacturers become increasingly reliant on sophisticated machinery, equipment
breakdown insurance can help guard against financial injury stemming from a costly system malfunction
or failure.

In a highly competitive manufacturing industry, skilled workers are in high demand.
With employee safety a top priority, risk mitigation is a critical part of a workers compensation
insurance solution.

Advances in technology allow for increased interconnectivity of machines involved in
the manufacturing process often resulting in efficiency. However, it also results in new exposures,
such as cyber vulnerability. Consider cyber protection to mitigate this new and rapidly evolving risk.

As manufacturing transforms to a product-as-a-service model, manufacturers may require
Errors & Omissions protection for financial injuries sustained by customers.

As manufacturers become more interdependent, protection against property and business
interruption exposures is critical to avoid disruption in operations.

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Installation Services

As manufacturing becomes more dynamic, the third party liability exposures it
presents
become more complicated. Manufacturers need insurance solutions that enable them to react quickly when
products must be withdrawn from the marketplace and when third parties sustain injury or damage.

As opportunities continue to expand in the global market, manufacturers need
insurance
solutions that address exposures anywhere in the world.

As manufacturers become increasingly reliant on sophisticated machinery,
equipment
breakdown insurance can help guard against financial injury stemming from a costly system malfunction
or failure.

In a highly competitive manufacturing industry, skilled workers are in high
demand.
With employee safety a top priority, risk mitigation is a critical part of a workers compensation
insurance solution.

Advances in technology allow for increased interconnectivity of machines
involved in
the manufacturing process often resulting in efficiency. However, it also results in new exposures,
such as cyber vulnerability. Consider cyber protection to mitigate this new and rapidly evolving risk.

As manufacturing transforms to a product-as-a-service model, manufacturers may
require
Errors & Omissions protection for financial injuries sustained by customers.

As manufacturers become more interdependent, protection against property and
business
interruption exposures is critical to avoid disruption in operations.

The challenges

Manufacturers cite a host of challenges that impact business performance